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Hospital deal will bolster SSM, SLU Hospital

From the St. Louis Post Dispatch

A deal to transfer St. Louis University Hospital to SSM Health will expand the hospital operator’s already sizable footprint in the region as well as tie SLU Hospital and the university’s medical school to a stronger partner.

The deal will happen in two separate steps. St. Louis University first will buy back the 365-bed hospital from Tenet for an undisclosed price.

The university will then transfer the hospital to SSM Health St. Louis, the unit that operates SSM’s local hospitals. As part of that second deal, SLU will receive a minority membership interest — which includes a financial interest — in SSM Health St. Louis and two seats on the board of SSM’s local unit. The financial terms of that deal were not disclosed.